Codes Combine Co (047770) Fair Value & Analysis
Consumer Cyclical · KR · Market cap 98.1B KRW
Fair value as of: Jul 22, 2026
From 22 valuation models · updated 19 days ago
Share price −4.4% over the past month.
A solid business, but screening 51% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (1,662 KRW). The favourable scenario is already priced in.
- Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.
How to read this chart
60‑month range 1,180 KRW – 5,470 KRW · fair‑value band 987.80 KRW – 1,662 KRW · the 2,690 KRW price screens above the 1,325 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.
Analysis
Codes Combine Co (047770) currently trades at 2,690 KRW, while our model-based Fair Value estimate is 1,325 KRW, implying the stock looks roughly 50.8% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Codes Combine Co generated revenue of 38.3B KRW at a net margin of 22.4%. Revenue grew 13.7% year over year. Net debt stands at 865M KRW. Fundamentals as of Jul 22, 2026
Our scenario range runs from 987.80 KRW (bear case) to 1,662 KRW (bull case); at 2,690 KRW, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 55% below its 52-week high and 66% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 47% fair-value upside, at -51%, 047770 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 22 models by family
Widest divergence: Growth Earnings (1,937 KRW) versus Earnings-Based (968.63 KRW). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 43
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Codes Combine Co., Ltd. manufactures and sells fashion clothing products. It also operates stores. The company was formerly known as Yeshin PJ Co., Ltd. Codes Combine Co., Ltd. was founded in 1995 and is headquartered in Seoul, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Codes Combine Co reported revenue of 39.7B KRW in FY2025 versus 38.3B KRW in FY2021, a compound +0.9%/yr. Reported net income was 4.4B KRW in FY2025, compounding −9.7%/yr from FY2021.
047770 screens 51% overvalued. Compare with GAMSUNG Corporation →
Peer Group
Consumer Discretionary · 3551 stocks
How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Textiles & Apparel” was too small, so the broader sector is used.)
Valuation Multiples vs Consumer Discretionary median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Textiles & Apparel stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| GAMSUNG Corporation 036620 | 3,885 KRW | 6,675 KRW | +72% |
| The Bombay Dyeing and Manufacturing Company 500020 | ₹121.35 | ₹43.19 | -64% |
| AztechWB Co 032080 | 1,067 KRW | 1,569 KRW | +47% |
| STO Co 098660 | 1,460 KRW | 2,811 KRW | +93% |
| Gold Pacific Co 038530 | 761.00 KRW | 1,869 KRW | +146% |
| HYUNGJI INNOVATION & CREATIVE Co 011080 | 2,135 KRW | 276.33 KRW | -87% |
| Wonpung Mulsan Co 008290 | 625.00 KRW | 262.88 KRW | -58% |
| 542862 542862 | ₹27.51 | ₹36.09 | +31% |
| SBFL SBFL | ₹21.96 | ₹39.88 | +82% |
| 538890 538890 | ₹60.99 | ₹51.30 | -16% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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